At the risk of sounding unpopular, my experience of pulseaudio has actually been quite good. I remember the first time I installed it in regular Ubuntu (around Feisty I think), and was like "Wow, I can play CS:Source in wine and listen to music at the same time!"
I tried building a light-weight Ubuntu system from scratch (kernel+apt, then start installing packages) a while back, ending up with something basically like crunchbang (except fluxbox, not openbox). After reading a lot of comments on the web about pulse being heavy and useless, I decided to try a pure ALSA setup (OSSv4 had given me a lot of grief - though that seems uncommon). I found that while I had no trouble with multiple apps playing sounds simultaneously, I couldn't work out how to change the volume of apps independently. I was primarily testing with mplayer and audacious.
Once I installed pulse into the mix (with pavucontrol), I could instantly do this. So, while I agree that it may be more in keeping with crunchbang's philosophy not to include pulseaudio unnecessarily, I think that some of the PA bashing that's going on might be a bit unwarranted. Yes, PA does add yet another layer to what may be an already over-complex system, but it does seem to fulfill its functions very well.
If someone can tell me the proper way to give apps independent volume control with just ALSA, I'll recant the preceding happily and probably never look back 